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Credit Agricole Bank remains the highest FITCH-rated bank in Ukraine after 16 June 2016 year FITCH rating actions on Ukrainian banks.
Fitch Ratings has affirmed Credit Agricole Bank’s 'CCC' Long-term foreign-currency Issuer Default Ratings (IDRs), Long-term local-currency IDRs at 'B-' outlook revised to Stable from Negative, Viability Rating at 'b-'.
The affirmation of 'CCC' Long-term foreign-currency IDRs reflects the constraint of Ukraine's Country Ceiling (CCC).
Regarding viability rating of Credit Agricole Bank, it is the highest among the Ukrainian banks which were rated by Fitch. The key drivers of the viability rating are CAB’s high provisioning rate and its ability of generation of revenues to cover risks.
“CAB's 'b-' Viability Rating factors in more moderate asset quality deterioration than at most Ukrainian banks driven by a focus on multinational and agricultural companies. Loss absorption capacity is underpinned by a solid pre-impairment profitability”,- mentions Fitch in its official press release.
Credit Agricole Bank’s ratings as of 16 June 2016
Long-Term Foreign Currency IDR: affirmed at 'CCC'
Long-Term Local Currency IDR: affirmed at 'B-', Outlook revised to Stable from Negative
Short-Term Foreign Currency IDR: affirmed at 'C'
Short-Term Local Currency IDR: affirmed at 'B'
Support Rating: affirmed at '5'
Viability Rating: affirmed at 'b-'
National Long-Term Rating: affirmed at 'AAA(ukr)'; Outlook Stable
About the Bank:
PJSC «CREDIT AGRICOLE BANK» is a modern universal bank owned by the leading financial group in Europe – Credit Agricole Group (France). The Group is a major partner of the French economy and one of the largest banking groups in Europe. It is a leading retail bank in Europe, having the largest portfolio of assets under management, being first in the field of bank insurance and third - in project financing in Europe. CREDIT AGRICOLE has been operating in the financial market of Ukraine since 1993 and renders the entire range of banking services to private individuals, including VIP clients, and business. The Bank pays special attention to cooperation with agricultural enterprises. Reliability and business reputation of CREDIT AGRICOLE in Ukraine is confirmed by the highest possible FITCH ratings, leading positions in bank sustainability, bank deposit reliability and bank profitability rankings, as well as by 442 000 private and 35 000 corporate customers, including representatives of small and medium business, large Ukrainian companies and international corporations.
Viktoriia Torianyk, Head of PR and corporate communications Credit Agricole Bank
Phone: +38 044 581 07 45, email: Viktoriia.Torianyk@credit-agricole.ua